15/07/2003
ReGen Therapeutics Plc (‘ReGen’ or the ‘Company’) announces that it has today placed with new and existing shareholders 63.6 million new ordinary shares (‘New Shares’) at 1.50p per share to raise £954,000 before expenses (‘Placing’).
Application has been made for the New Shares to be admitted to the Alternative Investment Market of the London Stock Exchange plc and dealings are expected to commence at 8.00 am on 22 July 2003.
Executive Chairman Percy Lomax commented ‘The placing price is double the April placing price of 0.75p. Since the beginning of April 2003, the Company has raised approximately £1.67m through placing of new shares and disposal of investments in New Opportunities Investment Trust plc and Jubilee Investment Trust plc.
I am very pleased to see the Company in a financial position which enables it to continue the current scientific programme, and also that there was such a demand in the Placing for shares that investors had to be scaled back. I will also be adding to my own holding by subscribing for 333,333 new shares in the Placing’.
For further information please contact:
Andrew Marshall
Marshall Robinson Roe
Tel No 020 7489 2033